Chinese battery giant CATL has initiated its first external financing round for its skateboard chassis subsidiary, Contemporary Amperex Intelligence Technology (Shanghai) Limited (CAIT-SH), according to a report by Chinese media outlet Yiou.
CAIT-SH, a wholly-owned CATL unit established in 2021, recently opened a targeted RMB 2 billion ($280 million) financing round, with a reported pre-investment valuation of approximately RMB 9 billion. The fundraising aims to support CATL’s ambitions to expand its footprint beyond power batteries into battery-integrated chassis solutions.
See also: Mazda to Co-Develop EVs with CATL and Changan Using CIIC Skateboard Platform
Unlike a public offering, CATL reportedly restricted the funding round to selected invitees, setting a minimum investment threshold of RMB 100 million. External participants in this round include large state-owned entities. Among them is a subsidiary of Industrial Bank Trust, which acquired a 9.99% stake, while another major financial institution committed an investment of RMB 200 million, Yiou said.
The valuation offered in this first round is considered conservative and close to CAIT-SH’s net asset value, making the current financing round relatively attractive for early participants, according to the report.
See also: CATL and BAIC Group Collaborate on Skateboard Chassis and Battery Swap Technologies
CATL previously introduced the CATL Integrated Intelligent Chassis (CIIC), and in December 2024, unveiled the flagship variant, the Bedrock Chassis, with a focus on safety. Avatr Technology, a Changan Automobile subsidiary, will be the first automaker to utilize the Bedrock Chassis, although a launch timeline for its first model has not yet been disclosed.
While CATL remains the global leader in power battery supply — holding a 38.1% market share in the first five months of 2025, per South Korean firm SNE Research — the company is pursuing new avenues of growth. The report notes that growth in CATL’s battery business has begun to slow, prompting its strategic pivot toward value-added integrated solutions like chassis systems.